Thai Union Group has made a 10% strategic investment of around US$90 million in R&B Food Supply (RBF), a food ingredients company specialising in flavours, colours and coatings.
This deal follows a multi-year relationship between Thai Union and RBF in which RBF has been supplying ingredients including natural flavours and hemp extracts to enhance both Thai Union’s core offerings and newer products, such as alternative proteins and pet care.
“One of Thai Union’s strategic priorities is to expand our portfolio into new, growing and higher margin areas and this investment is fully aligned with that,” said Thiraphong Chansiri, chief executive of Thai Union.
“For over three decades, RBF has stood out as a leading ingredients supplier to the food and beverage industry in Thailand, and we are excited to be a part of their journey,” he added.
Somchai Ratanapoompinyo, chief executive of RBF said that the partnership will strengthen both companies’ competitive advantages. “RBF’s expertise and extensive experience of over 35 years in the food ingredients business will enhance Thai Union’s product offerings.
“In return, Thai Union’s global presence and reputation as a global player will help unlock RBF’s potential and accelerate our transition seamlessly from a regional player to become a global player in the food ingredients business,” he said.